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Italy - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

Italy - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights

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Sep 2, 2024

Italy's Virgin Olive Oil Imports Surge to $2.3 Billion in 2023

Italy Virgin Olive Oil Imports

In 2023, imports of virgin olive oil into Italy dropped markedly to 364K tons, which is down by -31.6% compared with the previous year. Overall, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2019 with an increase of 14%. Over the period under review, imports reached the maximum at 572K tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, virgin olive oil imports expanded remarkably to $2.3B (IndexBox estimates) in 2023. The total import value increased at an average annual rate of +2.8% over the period from 2015 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 24% against the previous year. Imports peaked in 2023 and are likely to see steady growth in the immediate term.Italy Virgin Olive Oil Imports By Country (Million USD)

COUNTRYImport Value of Virgin Olive Oil in Italy (million USD)
201520162017201820192020202120222023
Spain9861,0641,4149391,0848401,0861,225964
Greece528454306434176339418490865
Tunisia263166135202122153154198269
Portugal74.476.195.312496.0112141148113
Others24.117.410.019.217.913.413.49.7122
Total1,8761,7781,9601,7191,4971,4561,8132,0712,333

Imports by Country

Greece (144K tons), Spain (141K tons) and Tunisia (42K tons) were the main suppliers of virgin olive oil imports to Italy, with a combined 90% share of total imports.

From 2015 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +0.5%), while imports for the other leaders experienced a decline.

In value terms, the largest virgin olive oil suppliers to Italy were Spain ($964M), Greece ($865M) and Tunisia ($269M), together comprising 90% of total imports.

Greece, with a CAGR of +6.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the virgin olive oil price amounted to $6,411 per ton (CIF, Italy), picking up by 65% against the previous year. Overall, the import price recorded a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Portugal ($7,006 per ton) and Spain ($6,826 per ton), while the price for Syrian Arab Republic ($5,431 per ton) and Turkey ($5,507 per ton) were amongst the lowest.

From 2015 to 2023, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the virgin olive oil market in Italy. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 261 - Oil of Olives, Virgin

Country coverage:

  • Italy

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Italy
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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